The nationality of a company is determined by the law of the country in which it is incorporated and from which it derives its personality. However, for the purpose of taxation, test of residence may not be registration but where the company does its real business and where the central management and control exists. A distinction, thus, exists in law between a nationality and the residence – TDM Infrastructure Pvt. Ltd. Vs. UE Development India Pvt. Ltd. – Supreme Court